The US stock market has stabilized recently and trades moderately above its recent low. The recovery inspires hope that the worst is over. Maybe, but a review of various metrics suggest that there’s a good case for staying defensive until stronger evidence emerges the latest bounce is the start of an extended rebound.
Daily Archives: January 18, 2023
Macro Briefing: 18 January 2023
* Americans have reduced spending in recent months: NY Fed survey
* US-China officials discuss economic relations
* China says it’s open for business after its Covid lockdown
* China’s economy looks poised for a rebound, predicts fund manager
* Record oil demand expected this year as China reopens, predicts IEA
* Fed asks big banks how they’re preparing for climate change
* Former economic adviser to Trump says US has ‘weathered’ economic storm
* UK inflation slips for second month but remains high at +10.5% in December
* Fund managers’ allocation to US equities falls sharply in January: BofA survey
* NY Fed Manufacturing Index falls deeper into the red in January:
